AMD Hit With $2.5 Million in Bearish Put Activity as Stock Trades Near 52-Week Highs

By TrendSpider Editor

Advanced Micro Devices is flashing a bearish signal in the options market Thursday, with nine unusual put contracts totaling $2,556,750 in premium flooding the tape as AMD shares trade at $507.23, down 2.66% on the session. Every single contract is deep in the money, with strikes ranging from $740 t

AMD Hit With $2.5 Million in Bearish Put Activity as Stock Trades Near 52-Week Highs

Advanced Micro Devices is flashing a bearish signal in the options market Thursday, with nine unusual put contracts totaling $2,556,750 in premium flooding the tape as AMD shares trade at $507.23, down 2.66% on the session. Every single contract is deep in the money, with strikes ranging from $740 to $790 against the current price, suggesting these are not speculative lottery tickets but rather deliberate, high-conviction bearish bets. For context, AMD has traded between $149.22 and $584.73 over the past 52 weeks, meaning the stock sits in the upper half of its range even after today's pullback.

Key Drivers of the AMD Stock Move

The forward setup for AMD carries real uncertainty. The stock is already down 2.66% today, and the options flow landing on top of that weakness adds a layer of concern heading into the final months of 2026. The November 20 expiration cluster, which accounts for the majority of the contracts by count, gives traders roughly ten weeks to be right. The December 18 expiration contracts, including the largest single-premium trade of $739,479 on the $790 put, extend that window slightly further, providing cover through a period that would typically capture any major product announcements or year-end institutional rebalancing. Whether these are hedges or outright bearish positions, the sheer concentration of premium in deep ITM puts is a signal worth watching closely.

AMD Unusual Options Activity

All nine unusual contracts flagged today are puts. No calls appeared in the unusual flow. Below is a breakdown of each contract:

The $740 strike expiring November 20 was the most frequently targeted, appearing in five separate transactions. The largest single-contract premium belongs to the $790 December put at $739,479, followed by the $780 December put at $467,738 and the $760 November put at $406,817.60.

AMD Seasonality

September and October have historically been volatile months for semiconductor stocks, as the period captures back-to-school demand reads, enterprise IT budget cycles, and early positioning ahead of year-end. The concentration of November and December expirations in today's flow aligns with a window that traders often use to hedge or speculate through the final earnings cycle of the calendar year.

AMD Relative Performance

AMD is trading at $507.23, down 2.66% on Thursday, September 10, 2026. The stock sits roughly 13% below its 52-week high of $584.73 and remains dramatically above its 52-week low of $149.22, reflecting the significant rally the stock has staged over the past year. Today's decline, combined with the unusual bearish options flow, suggests AMD may be underperforming on a relative basis within the broader semiconductor space on this session.

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